MANILA, Philippines — The Bangko Sentral ng Pilipinas (BSP) has ruled out another huge 75-basis-point rate hike as it is looking at further raising key policy rates by 25 to 50 basis points next month. During the Post-SONA Economic Briefing 2022, BSP Governor Felipe Medalla said the Monetary Board is unlikely to hold another surprise […]
Read MoreMANILA, Philippines — Multilateral lender International Monetary Fund (IMF) has raised its 2022 gross domestic product (GDP) growth forecast for the Philippines to 6.7 percent from the original target of 6.5 percent despite the expected slowdown in the second half. IMF resident representative Ragnar Gudmundsson said in an e-mail that the latest GDP growth projection […]
Read MoreGLOBALLY, several countries have reported high inflation, the Philippines included, amid the Covid-19 pandemic, supply chain disruptions and the ongoing war in Ukraine. As of June, inflation had hit a four-year high of 6.1 percent, the Philippine Statistics Authority recently reported. Businesses are likely to be significantly affected — a cause for concern for various stakeholders. Accountants will play a key role […]
Read MoreTHE Philippine gaming industry’s revenue is expected to recover to its pre-pandemic position by 2026 or even overtake this level, as player confidence slowly returns to the sector, a senior regulatory official said on Tuesday (Jul 26). “Definitely there will be no more lockdowns but bringing back the confidence of players is hard,” Daniel Cecilio, […]
Read MoreMANILA, Philippines — There will be no more surprise rate increases coming this year, Bangko Sentral ng Pilipinas Governor Felipe Medalla said Tuesday, adding that there’s less pressure now on the central bank to fire off jumbo rate hikes to rein in uncomfortably high inflation. “One thing I can say is you can only surprise […]
Read MoreMANILA, Philippines — President Ferdinand Marcos Jr. on Monday expressed his administration’s preference for better tax management and “spending efficiency” rather than imposing several new taxes to fix the government’s pandemic-battered balance sheet, a plan that could translate to a slow recovery in revenues and sluggish easing of public debt. In his first State of […]
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